Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: US$0.007 (vs US$0.001 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.007 (up from US$0.001 loss in 2Q 2023). Revenue: US$31.5m (up 97% from 2Q 2023). Net income: US$6.55m (up US$7.49m from 2Q 2023). Profit margin: 21% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year whereas the company’s share price has fallen by 54% per year. Duyuru • May 26
Kopy Goldfields Receives Observation Status On May 24, 2024, Kopy Goldfields AB (publ) issued a press release with information that the Company’s board of directors proposed that the annual general meeting would resolve to redeem minority shareholders share in the Company. Further, the press release included information that if the redemption should be approved by the annual general meeting, it would result in an application for delisting of the Company’s shares from Nasdaq First North Growth Market. The Company subsequently issued a press release with a notice to the annual general meeting where the aforementioned items are on the agenda. The rules of Nasdaq First North Growth Market state that an issuer can be given observation status if the issuer has disclosed its intention to delist its financial instruments from Nasdaq First North Growth Market. With reference to the above, Nasdaq Stockholm AB decides that the shares in Kopy Goldfields AB (publ) (KOPY, ISIN code SE0002245548, order book ID 77457) shall be given observation status. Reported Earnings • May 25
First quarter 2024 earnings released: US$0.005 loss per share (vs US$0.003 loss in 1Q 2023) First quarter 2024 results: US$0.005 loss per share (further deteriorated from US$0.003 loss in 1Q 2023). Revenue: US$17.2m (down 34% from 1Q 2023). Net loss: US$4.21m (loss widened 35% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Board Change • May 13
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Director Eric Forss was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Duyuru • Apr 20
Kopy Goldfields AB (publ) to Report Fiscal Year 2023 Final Results on Apr 29, 2024 Kopy Goldfields AB (publ) announced that they will report fiscal year 2023 final results on Apr 29, 2024 Board Change • Apr 15
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Director Eric Forss was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 22
Full year 2023 earnings released: US$0.001 loss per share (vs US$0.033 loss in FY 2022) Full year 2023 results: US$0.001 loss per share (improved from US$0.033 loss in FY 2022). Revenue: US$86.5m (down 25% from FY 2022). Net loss: US$1.33m (loss narrowed 96% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. New Risk • Jan 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$27m free cash flow). Earnings have declined by 39% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$100m (kr377.5m market cap, or US$36.6m). Reported Earnings • Nov 24
Third quarter 2023 earnings released: EPS: US$0.003 (vs US$0.011 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.003 (up from US$0.011 loss in 3Q 2022). Revenue: US$24.5m (down 44% from 3Q 2022). Net income: US$2.97m (up US$13.3m from 3Q 2022). Profit margin: 12% (up from net loss in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Duyuru • Jun 17
Kopy Goldfields Reports Updated Mineral Resources and Ore Reserves Estimates Kopy Goldfields' total estimated M, I&I Mineral Resources amount to 3,239 koz of gold (2,537 koz), and total Probable Ore Reserves amount to 1,802 koz of gold (1,282 koz), including the attributable reserves and resources of the Krasny project which yet have not been updated. AZ' Mineral Resources and Ore Reserves have increased primarily due to successful exploration campaign during 2021 and 2022 at Krasivoe underground gold deposit which is part of the Yubileyniy project. The updated resource statement is effective as of January 1, 2023 and was issued by UFMC Pty Ltd. - OptimMine. The updated Competent Persons Report ("CPR") comprises OptimMine's independent technical review of the mineral assets attributable to AZ. For hard rock assets, the new Mineral Resources include 2,480 koz of gold in the Measured, Indicated and Inferred categories. For placer assets, the CPR estimates 81.4 koz of gold in the Indicated and Inferred categories. Hard rock Ore Reserves are estimated at 1,661 koz of gold in the Probable category. Placer Ore Reserves are estimated at 46 koz of gold in the Probable category. Ore reserves are reported as part of the Mineral Resources. Reported Earnings • May 26
First quarter 2023 earnings released: US$0.003 loss per share (vs US$0.004 profit in 1Q 2022) First quarter 2023 results: US$0.003 loss per share (down from US$0.004 profit in 1Q 2022). Revenue: US$26.1m (up 1.8% from 1Q 2022). Net loss: US$3.13m (down 185% from profit in 1Q 2022). Reported Earnings • Mar 24
Full year 2022 earnings released: US$0.033 loss per share (vs US$0.009 profit in FY 2021) Full year 2022 results: US$0.033 loss per share (down from US$0.009 profit in FY 2021). Revenue: US$115.8m (up 29% from FY 2021). Net loss: US$29.5m (down 482% from profit in FY 2021). Reported Earnings • Nov 27
Third quarter 2022 earnings released: US$0.011 loss per share (vs US$0.007 profit in 3Q 2021) Third quarter 2022 results: US$0.011 loss per share (down from US$0.007 profit in 3Q 2021). Revenue: US$43.3m (up 31% from 3Q 2021). Net loss: US$10.3m (down 278% from profit in 3Q 2021). Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Eric Forss was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 26
Second quarter 2022 earnings released: US$0.01 loss per share (vs US$0.002 loss in 2Q 2021) Second quarter 2022 results: US$0.01 loss per share (down from US$0.002 loss in 2Q 2021). Revenue: US$17.3m (down 3.4% from 2Q 2021). Net loss: US$8.92m (loss widened 359% from 2Q 2021). Reported Earnings • Jun 03
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: US$0.004 (down from US$0.009 in 1Q 2021). Revenue: US$25.7m (up 33% from 1Q 2021). Net income: US$3.70m (down 53% from 1Q 2021). Profit margin: 14% (down from 41% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 55%. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Eric Forss was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorated over the past week After last week's 21% share price decline to kr1.29, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 5x in the Metals and Mining industry in Sweden. Total loss to shareholders of 32% over the past year. Buying Opportunity • Feb 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 41%. The fair value is estimated to be US$1.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 68% per annum over the last 3 years. The company has become profitable over the last 3 years. Recent Insider Transactions Derivative • Jan 07
Director exercised options to buy kr193k worth of stock. On the 31st of December, Andreas Forssell exercised options to buy 100k shares at a strike price of around kr1.67, costing a total of kr167k. This transaction amounted to 17% of their direct individual holding at the time of the trade. Since March 2021, Andreas has owned 606.00k shares directly. Company insiders have collectively bought kr352k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Dec 18
CFO & Deputy CEO exercised options to buy kr85k worth of stock. On the 16th of December, Tim Carlsson exercised options to buy 41k shares at a strike price of around kr1.67, costing a total of kr68k. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. Since December 2020, Tim's direct individual holding has decreased from 1.48m shares to 1.45m. Company insiders have collectively bought kr1.4m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Nov 27
Third quarter 2021 earnings: Revenues in line with analyst expectations Third quarter 2021 results: Revenue: US$33.1m (down 33% from 3Q 2020). Net income: US$5.81m (down 44% from 3Q 2020). Profit margin: 18% (down from 21% in 3Q 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 30%, compared to a 253% growth forecast for the industry in Sweden. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment deteriorated over the past week After last week's 15% share price decline to kr2.22, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Metals and Mining industry in Sweden. Total returns to shareholders of 11% over the past year. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 15% share price gain to kr2.30, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Metals and Mining industry in Sweden. Total loss to shareholders of 1.7% over the past year. Reported Earnings • Aug 29
Second quarter 2021 earnings released: US$0.002 loss per share (vs US$0.007 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: US$17.9m (down 15% from 2Q 2020). Net loss: US$1.94m (down 134% from profit in 2Q 2020). Executive Departure • Jun 04
Director Johan Osterling has left the company On the 27th of May, Johan Osterling's tenure as Director ended. As of March 2021, Johan still personally held 1.12m shares (kr2.4m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.13 years. Executive Departure • Jun 04
Director Tord Cederlund has left the company On the 27th of May, Tord Cederlund's tenure as Director ended. As of March 2021, Tord still personally held 9.34m shares (kr20m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.13 years. Recent Insider Transactions • Apr 26
Insider recently bought kr232k worth of stock On the 22nd of April, Tord Cederlund bought around 113k shares on-market at roughly kr2.06 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr779k. Despite this recent purchase, insiders have collectively sold kr1.8m more in shares than they bought in the last 12 months. Recent Insider Transactions • Apr 01
Insider recently sold kr2.3m worth of stock On the 25th of March, Tord Cederlund sold around 905k shares on-market at roughly kr2.50 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr2.3m more than they bought in the last 12 months. Is New 90 Day High Low • Feb 18
New 90-day low: kr1.94 The company is down 12% from its price of kr2.21 on 20 November 2020. The Swedish market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 19% over the same period. Is New 90 Day High Low • Feb 01
New 90-day low: kr1.99 The company is down 16% from its price of kr2.36 on 03 November 2020. The Swedish market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 17% over the same period. Reported Earnings • Sep 20
First half earnings released Over the last 12 months the company has reported total profits of kr137.0m, up 185% from the prior year. Total revenue was kr801.3m over the last 12 months, up 35% from the prior year. 